The clearest look to date of the relationship between Bernard Madoff and his feeder funds, one of which netted hundreds of millions in fees and which authorities say exposed investors to undisclosed risks, is put forth in new court documents filed by the Massachusetts Secretary of State, William Galvin.
One potentially damning accusation made by Galvin was that principals at the Fairfield Greenwich Group discussed among themselves the risk that Madoff would "blow up" and was aware of the gaps...Full Story